Today, PayPal is expanding its PayPal Working Capital program into Germany with PayPal Businesskredit.
PayPal Businesskredit will offer PayPal merchants a financing solution that will help them further grow their business.
PayPal Working Capital is a unique business financing product that has provided more than $6 billion in funding to more than 170,000 businesses in the United States, United Kingdom and Australia. This program, which recently celebrated its five year anniversary in the U.S., allows merchants to apply for a loan online, and receive a decision quickly. As soon as the merchant decides on the amount and the repayment percentage, the funds are deposited into their PayPal account. The loan does not incur interest, but rather, PayPal charges a one-time fixed fee that is displayed transparently to the applicant. Because PayPal is the payment processor for the business, the agreed upon repayment percentage is automatically deducted from the merchant’s PayPal account.
“Since our start in Germany almost 15 years ago, we have supported companies of all sizes in successfully running their online business,” says Michael Luhnen, Managing Director PayPal Germany, Austria and Switzerland. “With PayPal Businesskredit, we can now offer our large base of small and medium-sized businesses in Germany a quick and easy funding solution and means to grow their businesses.”
Contributed | what does this mean?